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14 June 2012

my grandad is 82 and selling his house to move into sheltered accomodation

He plans on splitting the money between his children and grandchildren. He will not receive any benefits and has enough money to live comfortably and be able to pay all his bills without any problems. A friend told me that he has to keep the money from the house for 7 years after it sells in case he needs to go into a nursing home. Is this correct? I should add that although he is 82 he very fit and healthy but cannot manage the house and the garden like he used to hence the move into sheltered accomodation. Any advice would be grately appreciated.

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